The $84 trillion wealth transfer is expected to benefit Gen X the most.

• In the near term, Gen Xers are likely to receive the largest inheritances as baby boomers pass down their fortunes, while millennials and members of Generation Z may expect the biggest inheritances in the coming years.
• The average age of North Americans inheriting $5 million or more from their parents is 46.1 years old, according to Wealth-X.
• The discussion of young inheritors has largely overlooked the large wealth potential for Generation X, as the findings highlight.

The Great Wealth Transfer in the next 10 years may see Generation X as the largest beneficiaries, according to a recent study.

In the near future, Gen Xers are predicted to receive the largest inheritances as baby boomers pass down their wealth, with the average age of individuals in North America set to inherit fortunes from parents worth $5 million or more being 46.1 years old, according to Wealth-X.

According to a study, the average age of children who will receive the largest inheritances from parents worth $30 million or more is 47.6 years old. The study defines Gen X as being between the ages of 44 and 59 today, and millennials as being between the ages of 28 and 43.

The research highlights the significant wealth potential for Generation X, which has been largely ignored in discussions about young inheritors. Wealth management firms and private banks have primarily focused on potential clients in their 20s and 30s, waiting for trillions to be passed down by families. Over 50% of millennials expect to receive an inheritance of at least $350,000, according to Alliant Credit Union.

Wealth management firms, luxury companies, and real estate firms targeting the next generation of wealthy clients should also consider Generation X, according to the Wealth-X report.

According to the report, Generation X will inherit from their wealthy parent(s) before millennial and Generation Z heirs, despite much media attention given to the latter groups.

According to the report, currently, millennials and Gen Z are more likely to receive smaller sums as grandchildren.

In the next decade, over $31 trillion in wealth will be inherited by 1.2 million individuals worth $5 million or more, with nearly two-thirds of that amount coming from the ultra-wealthy. This translates to nearly $20 trillion being passed down from just 155,000 people in the top bracket of wealth.

Nearly half of the $31 trillion total being inherited will come from super-wealthy individuals worth $100 million or more, with billionaires passing down about $5 trillion, according to the report.

The report suggests that the next generation of investors will have different values and priorities from previous generations, which wealth managers, luxury firms, and philanthropies need to adapt to.

The report stated that many heirs' aspirations will center on new technologies, the clean-energy transition, and impact investing, which may not align with a family's existing business structures or the legacy plans of those transferring their fortunes.